IFC Supporting Increased Trade Finance and Business Development in South Sudan

Juba, South Sudan, October 23, 2012— IFC,
a member of the World Bank Group, is training bankers in South Sudan on
how to structure simple and complex trade finance transactions that will
support increased trade and business development, strengthening the country’s
economy.

In collaboration with the Bank of South Sudan
and the South Sudan Bankers Association, IFC, through its Global Trade
Finance Program, hosted a five-day trade finance training program in Juba
in October for local banks that focus on international trade.

The training, based on international best
practices, helped bankers upgrade their skills in structuring basic and
complex trade finance transactions, and improved their techniques for mitigating
trade finance risk.

Georgina Baker, IFC Director for Global Trade
and Supply Chain Solutions, said, “IFC is providing banks in South Sudan
with the skills they need to offer trade finance products to their clients
and develop the country’s financial markets. With increased access to
finance, local entrepreneurs can take advantage of new opportunities and
grow their businesses, spurring economic development in the country.”

This training was the first of several that
IFC’s Trade and Supply Chain Department plans to hold in South Sudan,
which gained independence in 2011 and is working to build a strong and
diverse economy, including increasing its levels of trade.

Since 2005, the Global Trade Finance Program
has issued more than 13,000 guarantees totaling $20 billion to banks for
trade-related payment obligations of their financial-institution clients
in emerging markets. In fiscal 2012, IFC provided $2.9 billion to support
trade in the world’s poorest countries, and 79 percent of all guarantees
went to small and medium enterprises.

IFC is supporting private sector
development in South Sudan with a number of advisory services programs
that are supporting the growth of smaller businesses and improving the
investment climate.

IFC has completed a small business
market assessment in South Sudan, and is training local banks in credit
risk management. IFC is also helping design agriculture and trade finance
products to further support smaller businesses.

South Sudan is one of seven focus countries
of IFC’s Conflict Affected
States in Africa (CASA) Initiative, which is supporting private sector
development in countries recovering from conflict. CASA is supported by
partners Denmark, Ireland, the Netherlands, and Norway.

About IFC
IFC, a member of the World Bank Group, is the largest global development
institution focused exclusively on the private sector. We help developing
countries achieve sustainable growth by financing investment, mobilizing
capital in international financial markets, and providing advisory services
to businesses and governments. In FY12, our investments reached an all-time
high of more than $20 billion, leveraging the power of the private sector
to create jobs, spark innovation, and tackle the world’s most pressing
development challenges. For more information, visit www.ifc.org.